More often than not, it’s best to get your home looking as spotless as possible before it hits the market. But sometimes, life happens…and you may not want or be able to make any repairs or updates. This is why some sellers choose to list their homes as-is.
Not sure if this option is right for you? Here’s everything you need to know before you sell.
What You Should Know Before Listing Your Home As-Is
To put it simply, listing your home as-is means that you’re selling your property in its current condition—no updates, no repairs, no changes. While this may seem like an appealing option, there are are few drawbacks to consider. Here’s what you need to keep in mind.
Pro: Less work for the seller
Even if your home is move-in ready, getting it cleaned up for buyers can still be a hassle. But if you have a lot of work that has to be done, like major repairs or updates, the entire staging process can seem overwhelming.
If you choose to list your home as-is, you won’t have to worry about spending money or time on improvements. All you’ll have to do is find an agent and let them handle the sale—but make sure they know you won’t be making any changes.
Con: It could discourage buyers
Seeing “as-is” in a listing can set off alarm bells for many potential buyers, as it often signals that a house could turn into a money pit. This negative impression might even cause your home to linger on the market for longer than you might expect.
To counter this negative stigma, consider having a pre-listing inspection and disclose any known issues to buyers. That way, they’ll know exactly what is—and isn’t—wrong with your home.
Pro: You won’t have to negotiate
It’s not uncommon for buyers to negotiate after they’ve discovered any issues during a home inspection. If you want to avoid offering credits or making repairs to secure a sale, listing as-is can signal to buyers that you aren’t willing to make many concessions.
This option can be particularly convenient if you’re looking to move quickly or avoid putting any more money into your home!
Con: You may have to sacrifice equity
When you’re selling your home as-is, you may have to sacrifice some hard-earned equity for convenience. Because as-is homes usually aren’t move-in ready, buyers won’t be willing to pay full market value if they have to make repairs.
Talk with your agent and disclose all of your home’s known issues before setting a price. They’ll be able to give a realistic number that will draw in buyers—but you should still be prepared to receive a few low-ball offers.
Getting Ready to Sell Your Home?
If you’re thinking about listing your New Orleans home as-is, be sure to talk with a real estate professional first! The Nugent-Freeland Team is here to answer all of your selling questions—just contact us to get started. We also have some easy staging tips to get your home prepped for buyers!